Administered by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Investing in Business Innovation (IBI) offers small business loans to assist high growth, innovative startups and early-stage businesses in commercializing new products, processes, and technologies. Southern Ontario businesses with private funding that require additional cash flow can use
FedDev Ontario’s 2014 launch of the Southern Ontario Prosperity Initiatives (SOPI) provided $530 million for small businesses to finance a variety of innovative and productivity-building projects. Investing in Business Innovation (IBI) is one of the four business-oriented programs created through the SOPI’s and aims to assist early-stage businesses to commercialize
The Investing in Business Innovation (IBI) small business loans program was created as part of the $530 million Southern Ontario Prosperity Initiatives (SOPIs). Provided through the Federal Agency of Economic Development for Southern Ontario (FedDev Ontario), IBI provides funding for early stage businesses to commercialize new, innovative products and processes.
Canadian small-and-medium sized businesses (SMEs) are vital to the success of the economy and well-being of all Canadians. In 2012, nearly 90% of the Canadian workforce was employed by SMEs, and these businesses were responsible for contributing close to 30% of Canada’s overall GDP. In Ontario, SMEs employ over 3.8
FedDev Ontario recently announced their continued support for Northumberland Community Futures Development Corporation (Northumberland CFDC). The CFDC – a not-for-profit organization that delivers financing and business strategy to entrepreneurs – will receive a $1.1M expansion to their original pilot project which supported 22 tech startups in the area. The program
FedDev Ontario is committed to growing the Ontario economy through a wide range of resources, support services, and government funding for small business, academic, and community projects. In 2013, Ontario accounted for 36.7% of Canada’s GDP, and the provincial government is committed to retain and improve this prominence. As a
Business innovation in Canada has remained stalled in comparison to other developed and developing nations. The Canadian government has invested nearly $25 billion in federal government grants, loans, and tax incentives between 2006 and 2014 to support innovation in Canada, however this strong funding support is still evolving to be
In the wake of a new report which comments on Canadian firms falling behind with innovation despite receiving funding support, The Canadian government continues to modify and improve upon established research and development funding initiatives to maximize their support of innovation. However there is always a risk with R&D. Even
With the popularization of crowdfunding (public platforms where entrepreneurs can pitch their ideas in hopes of gaining financial support), the Canadian government and various Provincial governments have begun to weigh in on the implications for early-stage businesses. In this article I hope to offer some insight into the recent changes
The Ontario government is very active in their distribution of Ontario small business funding this month. In addition to the recent FedDev Ontario funding awarded to HubHead ($625K) and MappedIn ($600K), the government has announced three more recipients of the Investing in Business Innovation (IBI) repayable Canadian government funding program.